Vietnam — not San Francisco, not Berlin, and not even El Salvador — has officially legalized digital assets. And not just 'let's think about it later,' but with full classification, categorization, and a decree that comes into effect on January 1, 2026.
And if you think, 'This is just another attempt to attract blockchain startups,' you're not entirely right. This is a real law. One that isn't afraid to use words like 'crypto-assets,' 'encryption,' 'authorities,' and even 'money laundering' in one document.
Virtual, but with taxes — like real reality!
The law divides everything that lives in the blockchain into two categories:
• Virtual assets are like your gaming tokens, fan points, and anything you can sell to a friend on a forum for bitcoin or beer.
• Crypto-assets are real front-line fighters: blockchain, cryptography, property rights. Everything Jerome Powell has been trying to ignore for the last five years.
And what is America doing at this time? Oh, we are closing bank accounts of NFT artists and debating whether to consider Dogecoin a security. Spoiler: Vietnam has already figured it out.
Communism? Perhaps. Progress? Definitely.
The irony is as follows. A country still governed by a communist party has suddenly turned out to be more liberal than Washington when it comes to the freedom of circulation of digital assets.
Right now, someone at the SEC is screaming into a pillow because:
'The Vietnamese model of legality attracts crypto investors.'
It sounds like a meme, but it's reality.
FATF said 'must' — Vietnam replied 'will do!'
Why did this happen now? Because the FATF (Financial Action Task Force) included Vietnam in the 'gray list.' It’s sort of an international way of saying: 'We’re not sure you’re not funding someone with a beard and rockets.'
But Vietnam decided not to panic. Instead of banning crypto — as old-school techies love to do — it wrote a full-fledged law where:
• AML/KYC rules are being established,
• Criteria for digital platforms have been defined,
• Requirements for user protection and combating cyber threats have been established.
Yes, Vietnam.
What does this mean?
1. Clear legal framework. No more 'gray area.' Crypto operators will be able to operate legally. Risks will decrease. Investors will come.
2. Blockchain startups will find a new refuge. While in the USA they face up to 5 years for 'trading unapproved assets.'
3. A model for Southeast Asia. Who's next — Indonesia? The Philippines? Or, scary to say, Japan, which is quietly integrating this into life and not telling anyone?
And in America?
Everything is stable for us:
• Crypto exchanges are suing the SEC.
• Congress is debating who should regulate tokens: the SEC or maybe the Pokémon-catching agency.
• And yes, you can still get a subpoena for sending Ethereum to a friend.